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Question answered.
Reverend Cheddar fucked around with this message at 09:29 on Jul 22, 2018 |
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Jun 1, 2007 02:40
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Wiggy Marie posted:Reverend Cheddar, are you asking if in the event you receive this scholarship, it would be a good idea to: Question answered. Reverend Cheddar fucked around with this message at 09:29 on Jul 22, 2018 |
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Jun 16, 2007 02:13
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I've got a question about the PLUS loan, about the payment; although the parent takes out the loan, and it's in their name, is it the student who ultimately pays it back and the parent responsible if you miss a payment? My gut feeling tells me it's the parent's responsibility though, which is not helping my case to my father to get just one PLUS loan instead of throwing me into the pit of private loan despair. The loan amount is relatively small in any case, only about $5,000 or so, so if I have to take that option it might not be absolutely horrible. Just my luck for returning to university when I just barely didn't qualify as independent and my dad married a finance lawyer.  Anyway, I've checked on finaid.org, where it says something to the effect that students can make payments on a PLUS loan, but it's not specific at all about how, just that one can. Trying to get my father to agree to this is like trying to fight Goliath with rubber bands, but I also know that if I can make a good case about how I'd be the one paying, he'd less hesitant.
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Jul 18, 2011 19:26
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Thought I'd post my two cents on the way I eventually solved my tuition deficit, that some people might want to do in lieu of student loans. I did my homework on private loans, tried to find one with reasonable interest (ahahaha lol), tried to figure out how the hell I'd possibly budget it after I graduate... and finally just said gently caress it, they all suck. So I called up the credit union I bank with and asked if I could just get a straight-up loan on a ten-year repayment plan, backed against my father's savings, and they approved me on the spot. Since I'd been banking with them for so long (dad took me to get a supervised account when I was like fourteen, so nearly ten years), they didn't even bother to check my credit report, which I knew would be non-existent. So you may want to look into that route, if possible. There's many catches to this, of course. The most pressing on you yourself is that you have to pay it back immediately, cause it's not a student loan and isn't deferred, but I'm working part-time anyway and can cover the payments. Also, given that I'm borrowing against my father's savings, I can't exactly do this for next year since he sure as hell wouldn't agree do it for another, but your parental mileage may vary  (I'll finally have independent status next year, so as long as I stay poor and meet Pell Grant requirements, my school will foot the bill. Go Huskies. me finally making independent status was a big reason why my father agreed to the deal in the first place.)Given the deal I got, though -- fixed 3.25% APR, a ten-year repayment which puts my monthly bill at less than $50 and my eventual interest at less than $1000, and none of this with the need for an official cosigner besides my father approving the backing of his savings (so I can build up my credit history)... yeah, you can see why I decided to go this route instead of letting Sallie Mae or whomever rape me with a morning star. Ironically I forsee myself getting hosed over by the unsubsidized federal loans I had to take out.
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Oct 10, 2011 05:21
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Hello! I am just wondering what the general experience has been on changing the due date of a loan payment. I only have two loans and they are with Fedloan Servicing, and from a cursory Google search of their customer service it ranges from 'meh' to 'arrrgh'. I called last week to reschedule my payments (I'm employed, my payments are only $150 combined and I can afford that perfectly fine, it's lining them up with payday that's the problem) but the due date on my account hasn't changed. The girl on the other end was insisting I could be late up to thirty days, but even though they're federal loans I've heard too many horror stories about student loans in general to not be paranoid, and I don't want my credit score or anything to take a hit. 
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Sep 30, 2013 14:14
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